The company, which specialises in the development of internet gaming, will be floated on the Toronto Stock Exchange after issuing over two million shares, with an option for a further one million to be sold.

Chartwell’s offering of entertainment, e-commerce and online software has seen revenues double since 2001, the company declaring a healthy operating profit last year for the first time.

The shares will be offered in certain areas of Canada, through which Chartwell hope to fund “general corporate purposes”. The issue will close in mid-December this year.